U.S. markets and major risk assets stayed resilient after August CPI came in hotter, pushing up expectations for further Federal Reserve tightening. The market is now pricing roughly a 90% chance of a rate hike next week and has fully priced in two hikes by year-end. Despite that shift, price action remained strong across crypto, U.S. equity index futures, and gold.
According to HTX market data, Bitcoin briefly spiked down to $76,046 before recovering to $78,000. Ether moved above $2,500. In premarket trading, BIT (bit.com) data showed Dow futures up 0.8%, Nasdaq futures up 0.82%, and S&P 500 futures up 0.73%.
Bitget data also showed spot gold rebounding more than $70 from its post-CPI low, climbing above $4,360 per ounce after previously falling to around $4,290 per ounce. The move suggested that once the inflation print was absorbed, global markets continued to trade with a firm tone rather than extending the initial pullback.
On Sept. 11, U.S. August CPI accelerated, leading markets to raise expectations for further Federal Reserve tightening. Current pricing implies roughly a 90% chance of a Fed rate hike next week, while two additional hikes by year-end are now fully priced in.
Even so, global markets remained firm after the CPI release was absorbed.
Crypto prices rebound after the initial move
According to HTX market data, Bitcoin briefly dipped to $76,046 before recovering to $78,000. Ether rose above $2,500.
U.S. stock index futures stay higher
According to BIT (bit.com) market data, Dow futures were up 0.8% in premarket trading, Nasdaq futures gained 0.82%, and S&P 500 futures rose 0.73%.
Spot gold climbs from post-CPI low
Bitget market data showed spot gold rebounding more than $70 from its low after the CPI release, moving above $4,360 per ounce after earlier falling to around $4,290 per ounce.
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